CD Rates
Top 24-month CD rates open new year at 1.30%
The best 2-year CD rates took a bit of a beating in 2011.
Savers in all 50 states could have taken advantage of the top nationally available offer of 1.65% APY at the beginning of the year.
As 2012 opens, the highest yield you can hope for is 1.30% APY, which is available from two banks:
American Express Bank, an online bank owned by the credit card company, which requires no minimum deposit.
CIT Bank, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, with a $1,000 minimum deposit.
American Express and CIT both pay more than three-quarters of a percentage point better than the average yield of 0.52% APY offered by banks and thrifts throughout the country, according to our most recent survey.
As of Dec. 30, 2011, three other banks pay at least 1.25%:
Goldwater Bank, which has a single location in Scottsdale, Ariz., pays 1.29% APY with a $5,000 minimum deposit.
Broadway Federal Bank, which has five branches in Los Angeles and Inglewood, Calif., pays 1.26% APY with a $500 minimum deposit.
Hudson City Savings Bank, which has 130 branches in New Jersey, New York and Connecticut, pays 1.25% APY and requires a $500 minimum deposit for anyone living in that tri-state area but a $5,000 minimum deposit for everyone else.
To qualify for this list, a bank must allow savers from all 50 states to buy its certificates of deposit online or through the mail.
Click here to compare these returns with the top CD rates from dozens of banks in your area.
Our CD calculator will help you figure out the interest you'll earn, for any term, amount and interest rate.
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